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MDSR buys shopping Nova Arcada from CGD
10 January 2020 | Ana Tavares

Fund MDSR bought shopping centre Nova Arcada, in Braga, from Caixa Geral de Depósitos. Sonae Sierra will continue managing and marketing the asset.

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In the press release, Ran Shtarkman, MDSR’s CEO and co-founder, commented that «we have been observing the Portuguese market for some time, because we believe it is still full of opportunities. With the acquisition of the Nova Arcada, we concluded one of our goals of debuting in the market with a first-class asset», which he considers to be «a modern shopping centre with great and well-known anchor stores and with an enormous potential for growth».

Cristina Santos, administrator in charge of management at Sonae Sierra in Iberia, stated that «it is with great satisfaction that we remain involved in a project we helped build and which is a true case study in terms of revitalising and repositioning a real estate asset. This long-term commitment with the management of such a large project shows our partners’ confidence in our services and in our teams».

The Nova Arcada currently receives 6 million visitors per year, and has a 95% occupancy rate. During the last year alone, it registered an 11% increase in sales (excluding Ikea’s store). It also features a Continente, Hospital Trofa Saúde, H&M, a Cinema multiplex from Cineplace and several brands from group Inditex.